Potentia Wealth Takes $1.84 Million Position in Arista Networks, Inc. (NYSE:ANET)

Potentia Wealth acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,676 shares of the technology company's stock, valued at approximately $1,843,000. Arista Networks makes up 0.8% of Potentia Wealth's investment portfolio, making the stock its 24th largest holding.

Several other hedge funds have also bought and sold shares of the company. Caitlin John LLC increased its stake in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC raised its stake in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares of the company's stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Down 0.7 %

Arista Networks stock traded down $0.64 during midday trading on Tuesday, reaching $86.87. The stock had a trading volume of 7,776,843 shares, compared to its average volume of 8,572,881. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The firm has a market capitalization of $109.55 billion, a PE ratio of 39.13, a P/E/G ratio of 3.10 and a beta of 1.08. The firm's 50-day moving average price is $101.47 and its 200 day moving average price is $101.98.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ANET shares. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.00.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.